A faster fall in imports and high yields could continue to support the peso’s advance after 1.4% gain against the US dollar in the month. Economists at ANZ Bank forecast USD/PHP at 49.80 by the end of 2020. Key quotes “Persistently weak crude prices and subdued domestic demand have notably improved the trade deficit in recent months. Import weakness is expected to continue, given that the recovery in domestic demand is sluggish. The tremendous increase in global liquidity is also expected to support the peso.” “Despite an adverse growth outlook, the PCOMP index has recouped half of the loss it suffered at the start of the pandemic, while Philippine yields remain high despite the recent BSP rate cut.” “We believe that the PHP’s advance will be largely unaffected by the adverse growth outlook for the economy. In fact, we see scope for a further fall in USD/PHP, which we expect to reach 49.80 by year-end.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 opens modestly higher around 3,050 points FX Street 2 years A faster fall in imports and high yields could continue to support the peso’s advance after 1.4% gain against the US dollar in the month. Economists at ANZ Bank forecast USD/PHP at 49.80 by the end of 2020. Key quotes “Persistently weak crude prices and subdued domestic demand have notably improved the trade deficit in recent months. Import weakness is expected to continue, given that the recovery in domestic demand is sluggish. The tremendous increase in global liquidity is also expected to support the peso.” “Despite an adverse growth outlook, the PCOMP index has recouped half of the loss it… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
